Sunday June 22, 2008
Financial Times

HNB to venture into Bangladesh

Having moved into India, Hatton National Bank (HNB) is now gearing to enter Bangladesh, possibly within this year, joining Sampath Bank and Commercial Bank who have branches there.

“We are exploring the potential in Bangladesh to set up an investment banking operation there. We want to exploit the opportunities we have there,” Rajendra Theagarajah, Managing Director HNB told The Sunday Times FT.

HNB struck a Memorandum of Understanding with City Union Bank of India (CUB) last January with the intention of setting up a Joint Venture Investment Banking operation in India. He said the proposed venture is subject to sanction from the Securities and Exchange Board of India [SEBI] and the Reserve Bank of India (RBI).

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